17-bedroom, theater and helipad mansion to be auctioned on French island of Malaya

London, Ta. January 17, 2020, Friday

Liquor runner Vijay Mallya has another problem. 17-room mansion on French island of Malaya is closed. Qatar National Bank filed a petition in the court stating that a 1.3 hectare property on Vijay Mallya's French island, Ile Saint Marguerite, should be allowed to be auctioned.

It may be recalled that Mallya had taken a loan of Rs 212 crore to buy the mansion and did not pay it. According to sources, the mansion also features 17 luxury bedrooms, a nightclub, a cinema hall and a helipad.

It is worth mentioning that at the beginning of the new year, the special court of Mumbai allowed banks, including State Bank of India, to recover the outstanding amount of debt by selling the assets of financially delinquent Vijay Mallya.

Mallya borrowed $ 3 million (Rs 210 crore) from Qatar National Bank subsidiary Ensbacher & Company to buy the mansion. If Mallya demanded more time to repay the loan, the bank had directed the assets to be fixed. According to real estate agents, the value of this property has decreased by 1 million euros.

Britain is also facing a case of non-payment of Rs 9000 crore from banks on Malaya. Besides not paying the loan amount of the banks, Mallya has also been accused of fraud and money laundering. Mallya left India in 2016 and fled to London.